04Jenkins docs
The curve and graduation
How a Pons V2 curve prices a coin, where the fees go, and what happens at 4.2 ETH.
Supply and pricing
At launch the full 1,000,000,000 supply is minted to the coin's curve contract. The curve prices the coin from its reserves with constant-product maths: a quote reserve against a token reserve. The quote reserve starts with 1.68 ETH of virtual liquidity, which gives the coin an opening market cap of about 1.68 ETH before anyone has bought. What buyers actually pay in is tracked separately as the real quote reserve.
Fees on the curve
| Charge | Rate | Goes to |
|---|---|---|
| Curve fee | 1% of every buy and sell | Pons |
| Creator tax | 0–10%, chosen at launch | The launcher's wallet |
| Opening tax | Decays from 99% to 0% over the first 15 s; per buy, on top of the above | Pons |
Graduation
When the real quote reserve reaches 4.2 ETH, the curve is full. Pons moves the liquidity into a Uniswap v4 pool on Robinhood Chain (quoted in ETH, fee tier 0 with the Pons hook, tick spacing 200) and the curve stops: further curve buys and sells revert with CurveGraduated. Graduation is one-way. The coin page shows Graduating while the curve is full and the sweep is pending, then Graduated.
After graduation the pool prices the coin. The Pons hook charges a dynamic fee on pool swaps; at the time of writing a round trip cost about 6%, so roughly 3% per side. Jenkins reads the pool's price through DexScreener and quotes swaps through Uniswap's own Quoter.